Piper Sandler reiterates Overweight rating on Corcept Therapeutics stock

Investing.com - Piper Sandler has reiterated an Overweight rating and $131.00 price target on Corcept Therapeutics (NASDAQ:CORT) following insights from an expert call on the company’s relacorilant treatment for ovarian cancer. The company has demonstrated remarkable performance with a 131% return over the past year and maintains a robust 98.36% gross profit margin.

The research firm hosted a call with a leading oncologist from an academic center who manages approximately 60 ovarian cancer patients. While not an investigator in relacorilant studies, the expert is familiar with the product’s clinical data. According to InvestingPro analysis, CORT’s strong financial health and upcoming earnings report on July 30 could provide additional catalysts for investors.

According to Piper Sandler, the oncologist envisions a "sizable role" for relacorilant in treating platinum-resistant ovarian cancer (PROC), representing a potential market opportunity for Corcept.

The expert noted interest in seeing detailed data from the KEYNOTE-B96 study evaluating Merck (NSE:PROR)’s Keytruda to better understand potential treatment sequencing, rather than viewing the treatments as mutually exclusive options.

Piper Sandler emphasized that treatment sequencing considerations are important since patients with this condition typically experience disease progression and will exhaust available options over time, supporting the firm’s maintained Overweight rating and $131 price target.

In other recent news, Corcept Therapeutics has reported significant developments across multiple fronts. The company announced that its CATALYST trial for Korlym in patients with hypercortisolism and challenging type 2 diabetes successfully met its primary endpoint, demonstrating a notable improvement in blood glucose control. The trial results were shared at the American Diabetes Association’s Scientific Sessions and published in Diabetes Care. Additionally, Corcept presented positive data from its Phase 3 ROSELLA trial at the ASCO 2025 Annual Meeting. This study evaluated relacorilant in combination with nab-paclitaxel for treating platinum-resistant ovarian cancer, achieving its primary endpoint of improved progression-free survival.

H.C. Wainwright reaffirmed its Buy rating and $145 price target for Corcept, emphasizing the significance of the ROSELLA study’s findings. Meanwhile, Truist Securities maintained a Buy rating with a $135 price target, citing opportunities for Corcept in treating hypercortisolism with co-morbid diabetes. Furthermore, Corcept’s recent annual meeting saw the election of nine directors and the approval of Ernst & Young LLP as the company’s independent accounting firm. These developments reflect Corcept’s ongoing efforts in advancing its therapeutic pipeline and corporate governance.

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